After Elon Musk, Another Billionaire Chose Dogecoin

After Elon Musk, Another Billionaire Chose Dogecoin

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Tesla CEO Elon Musk's love of Dogecoin (DOGE) is in the language of the entire cryptocurrency industry. The DOGE, which soon rose by 1,000% and above, was actually confused by the language of even people who were not in the cryptocurrency sector with this recognition. Despite this, it is worth noting that the DOGE price remains well below $ 1, which is considered a big target.

DOGE price falls gradually

Of course, the two most important reasons behind the DOGE price's gradual decline can be expressed as its unlimited supply and the fading interest of Elon Musk. News that the U.S. Securities and Exchange Commission (SEC) would be investigating Elon Musk over Doge's tweets led Musk to stop his tweets.

And now it seems that another billionaire has made ambitious statements about the DOGE. Celebrity entrepreneur Mark Cuban, who owns the Dallas Mavericks team, hinted he could take the Doge for as much as $ 1. Cuban recently arranged for the giant NBA team to sell tickets with the DOGE. Although this decision has been criticized by many names, Cuban thinks it is much more useful than buying tickets with Bitcoin.

Can DOGE be $ 1?

Cuban also stressed that the Doge would “absolutely” reach the $ 1 unit price. Of course, for this, the current DOGE price must rise by at least 1,860% as of the moment this article is written. This rate is even more than the 1,000% rate seen before, and it seems impossible.

The drastic decline that the Doge price experienced after reaching its peak, that is, the $ 0.089 level, actually sums up the situation. DOGE, which has no serious technology or any other feature other than cryptocurrencies, appears to have actually achieved a purely FOMO-focused rise. Despite this, providing products or services for famous teams such as the Dallas Mavericks in exchange for a DOGE can be a solution for famous cryptocurrencies.

DOGE Technical Analysis

If the Doge price closes below the $ 0.05 level, it is estimated that it can reduce to $ 0.027 in the short term. Especially if the investigation into Elon Musk's Doge tweets is really opened, and other celebrities are in trouble for this reason, DOGE could directly live up to the fate of XRP.

Cuban's response to those who criticize him with the answer that Doge was not a mistake shows that there is still a chance for DOGE.

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